Moratorium applications amounting to 295 billion euros, over 141 billion the value of requests to the SME Guarantee Fund; the total volumes of loans guaranteed by SACE exceed € 21,6 billion
Applications for adhesion to the moratoriums on loans amounted to over 2,7 million, for a value of approximately 295 billion, and requests for guarantees for new bank loans for micro, small and medium-sized enterprises submitted to the Fund exceed 141 billion. of Guarantee for SMEs. Through SACE's 'Guarantee Italy', the volumes of guaranteed loans reach 21,6 billion euros, out of 1.561 requests received.
These are the main results of the survey carried out by the task force set up to promote the implementation of the measures to support liquidity adopted by the Government to cope with the Covid-19 emergency, which includes the Ministry of Economy and Finance, the Ministry of Economic Development, Bank of Italy, Italian Banking Association, Mediocredito Centrale and Sace [1].
The Bank of Italy continues to collect data from banks, on a weekly basis, regarding the implementation of government measures relating to the 'Cura Italia' and 'Liquidity' decrees, category initiatives and those offered bilaterally by individual banks to their own clientele. On the basis of preliminary data, as of 12 February more than 2,7 million requests or notices for a moratorium have been received, on loans for approximately 295 billion [2]. It is estimated that, in terms of amounts, approximately 95% of the requests or communications relating to the moratoriums have already been accepted by the banks, albeit with differences between the various measures; about 4% have so far been rejected; the remainder is under examination.
The amount of the moratoriums in place differs from that of the moratoriums approved so far for various reasons, including the expiry of a part of the moratoriums. The evidence collected by the Bank of Italy shows that approximately two thirds of the amounts of the moratoriums requested and approved by the banks since March 2020 are still outstanding. This percentage is higher for legal moratoriums than those promoted by intermediaries or their associations (79 and 47 per cent, respectively).
More specifically, applications from non-financial companies represent 43% of the total, against loans of 190 billion. As for SMEs, the requests pursuant to the 'Cura Italia' Decree (almost 1,3 million) concerned loans and credit lines for 154 billion. The 60 subscriptions to the moratorium promoted by ABI involved 17 billion in loans to businesses.
Applications from households [3] concerned loans of € 95 billion. The banks received over 200 thousand applications for suspension of the mortgage payments on the first home (access to the so-called Gasparrini Fund), for an average amount of approximately 94 thousand euros. The moratoriums of ABI and Assofin aimed at families have collected 574 thousand subscriptions, for about 27 billion in loans.
On the basis of the weekly survey by the Bank of Italy, it is estimated that the requests received by intermediaries for access to the Guarantee Fund for SMEs continued to grow in the first half of February, exceeding one and a half million, for an amount of loans of almost 138 billion. As of February 12, approximately 94% of the applications for loans fully guaranteed by the Fund had been disbursed.
The Ministry of Economic Development and Mediocredito Centrale (MCC) report that a total of 1.748.490 requests for guarantees were received by the Guarantee Fund in the period from 17 March 2020 to 23 February 2021 to request guarantees for loans in favor of businesses, artisans, self-employed and professionals, for a total amount of over 141,6 billion euros. In particular, the applications received and relating to the measures introduced with the 'Cura Italia' and 'Liquidity' decrees amounted to 1.740.524 equal to an amount of approximately 140,8 billion euros. Of these, 1.092.949 refer to loans of up to 30.000 euros, with a 100% coverage percentage, for a financed amount of approximately 21,3 billion euros which, according to the law, can be disbursed without waiting for the definitive outcome of the investigation by the Manager and 264.619 guarantees for moratoriums pursuant to art. 56 of DL Cura Italia for a financed amount of approximately 5,6 billion. As of February 24, 1.725.299 transactions have been accepted, of which 1.717.540 pursuant to the 'Cura Italia' and 'Liquidity' decrees.
The total volumes of loans guaranteed under the “Guarantee Italy”, SACE's tool to support Italian companies affected by the Covid-21,6 emergency, rose to approximately 1.561 billion euros, for a total of 19 transactions. Of these, approximately € 8,8 billion relate to the first eight transactions guaranteed through the ordinary procedure provided for by the Liquidity Decree, relating to loans to large companies, with over 5000 employees in Italy or with a turnover value greater than 1,5 billion euros. In addition, the total volumes of guaranteed loans in simplified procedure grew to approximately 12,8 billion euros, against 1.553 guarantee requests managed and issued within 48 hours of receipt through the dedicated digital platform to which over 250 banks, institutes are accredited. financial and factoring and leasing companies.